After a long exploration campaign and results that place its Zimbabwean gas license among the most prolific in Africa, Invictus has concluded plans to move on to drill its first gas wells in 2021. If successful, the works will enable the country to achieve self-sufficiency in gas Ecofin Agency reports.
Australian firm Invictus Energy has said it plans to launch a drilling program on Cabora Bassa gas, housed on license SG 4571, in October 2021. The project will cost around $ 15 million, of which $ 3.5 million has already invested in preliminary works and pre-drilling data processing.
The potential resources detected on permit SG 4571 are around 9 Tcf of natural gas and 300 million barrels of condensate. Exxon Mobil, which had conducted research in the area, said exploration results are encouraging.
If the reserves and discoveries are confirmed, the project will enable Zimbabwe to become energy self-sufficient while boosting its economy. The government considers it a priority development project. It is believed to play a key role in the authorities’ vision to turn Zimbabwe into a middle-income economy by 2030.
